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The Zambia Chamber of Commerce and Industry (ZACCI) has called on banks and other financial institutions to develop more flexible financing products for small and medium-sized enterprises (SMEs), warning that limited access to affordable credit continued to hinder business growth.
Speaking during a panel discussion on Unlocking SME Growth Through Alternative Financing at the Securities and Exchange Commission (SEC) Capital Markets Forum held alongside the just ended 2026 Agricultural and Commercial Show in Lusaka, ZACCI Research and Information Officer, Msole Kapaku, said many businesses remained unable to access conventional bank loans.
Kapaku said commercial lending requirements were often beyond the reach of many SMEs, prompting the chamber to engage financial institutions on the need for financing products tailored to the realities of smaller businesses.
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“Our members still face challenges in accessing affordable finance. This has been our discussion at the Chamber of Commerce as we reach out to financial institutions to come up with tailor-made financial support for our corporates and business entities in the country,” he said.
He said improving access to affordable financing would enable SMEs to expand operations, invest in productive activities and create jobs, thereby contributing more effectively to Zambia’s economic growth.
Kapaku said the chamber was also helping businesses take advantage of financing programmes introduced by Government by raising awareness of the support available to SMEs.
Beyond traditional lending, he said ZACCI was facilitating access to alternative sources of capital by connecting local businesses with foreign direct investors seeking investment opportunities in Zambia.
“In terms of accessing alternative financing, we have foreign direct investors who come to the country seeking to partner with local entities to invest in Zambia. There are businesses that might be struggling, and we connect them to these businesses that are already present in Zambia,” Kapaku said.
His remarks echoed concerns raised by the Ministry of Small and Medium Enterprise Development, which identified access to finance as one of the biggest constraints facing SMEs.
Assistant Director for Business Development and Grants, Chinyanta Chinkula, said commercial banks and other lenders generally favoured established businesses with proven track records and adequate collateral, making it difficult for start-ups and emerging enterprises to secure financing.
He said expanding financing options for SMEs would be critical to unlocking entrepreneurship, stimulating business growth and supporting employment creation across the country.
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